8,924 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by First Merchants Corp

First Merchants Corp bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,924 shares of the oil and gas producer's stock, valued at approximately $280,000.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC boosted its position in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Hamlin Capital Management LLC boosted its position in Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer's stock worth $143,336,000 after purchasing an additional 24,335 shares during the last quarter. Brookfield Corp ON boosted its position in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer's stock worth $138,639,000 after purchasing an additional 278,892 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer's stock worth $118,561,000 after purchasing an additional 200,625 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded up $0.25 during midday trading on Tuesday, reaching $33.69. 4,003,118 shares of the company traded hands, compared to its average volume of 4,843,756. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $27.20 and a 12 month high of $34.63. The firm has a market capitalization of $73.02 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The firm's fifty day moving average price is $32.53 and its two-hundred day moving average price is $30.82.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company posted $0.72 EPS. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.35%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners's payout ratio is presently 79.55%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Wells Fargo & Company lowered Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Finally, Citigroup boosted their target price on Enterprise Products Partners from $36.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.70.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.